Opinion: Amount of Car v.s. Annual Income

thewagoneer · Post by **thewagoneer** » Wed Aug 08, 2012 12:02 am

HardCore97;299214 wrote:last time i checked a cobalt wasnt a rare high end car that increases in value the longer its around. or are you saying its worth more than you owe on it? big difference.

its in demand currently in the market the prices change bi-weekly

sharpie · Post by **sharpie** » Wed Aug 08, 2012 12:36 am

sirricealot;299216 wrote: I do finally owe less on it than i owe as well.

Uh wut?

SikofFalln · Post by **SikofFalln** » Wed Aug 08, 2012 6:42 am

You plan on financing it out for 72 months to make it affordable and you are already in the hole on your Cobalt, so you will really be in the hole when you go to sell the new car. It is just all around a bad idea. If you make 50K a year, why are you in the hole on a cheap car?

sirricealot · Post by **sirricealot** » Wed Aug 08, 2012 1:11 pm

When I financed the car I rolled in some inequity from a previous car. My car is now worth more than the loan has left. The car's trade in value isn't too bad either but still they like lowballing me on trade-in. I'm awaiting a ballpark figure from one dealership and if I'm not satisfied with it, cobalt is staying. Whether I pay it off or keep paying down on it, I'll most likely wait until the 2013 model year is near an end and scoop up a late model clearance deal.
That's what they've been doing to the 2012's lately.

Devilchrono · Post by **Devilchrono** » Wed Aug 08, 2012 2:44 pm

sirricealot;299259 wrote:When I financed the car I rolled in some inequity from a previous car. My car is now worth more than the loan has left. The car's trade in value isn't too bad either but still they like lowballing me on trade-in. I'm awaiting a ballpark figure from one dealership and if I'm not satisfied with it, cobalt is staying. Whether I pay it off or keep paying down on it, I'll most likely wait until the 2013 model year is near an end and scoop up a late model clearance deal.
That's what they've been doing to the 2012's lately.

So, you're going to wait until this time next year now???

sirricealot · Post by **sirricealot** » Thu Aug 09, 2012 12:25 pm

Devilchrono;299263 wrote:So, you're going to wait until this time next year now???

Most likely. Unless I get a killer deal on trade-in lol.

sirricealot · Post by **sirricealot** » Wed Aug 15, 2012 12:56 pm

Taking the opinions and keeping the cobalt for awhile. Might try to refinance if I can get a better rate